Binary Fountain, a SaaS-based social intelligence company, announced that it had secured $5. 7 million in funding from Pioneer Venture Partners This is the first round of financing for the company and will be used to further accelerate the company’s growth, customer acquisition and technology development.
With this investment, Binary Fountain plans to hire a nationwide sales force to focus on targeted verticals, including Healthcare, MDU, Education and Media. This investment will also be used to enhance the company’s suite of cloud-based social intelligence products. ‘We are thrilled to have this funding round completed so that we can fully focus on the growth of our business. With our sales, service and product teams, we have a strong foundation. This investment, coupled with our innovative product roadmap, will enable us to provide market-leading services in each of our targeted sectors,” said Ramu Potarazu, CEO.
‘Binary Fountain exemplifies what we are looking for as investors in companies: new technologies applied to underserved and emerging markets,’ said Kirby McDonald, Pioneer’s Managing Partner. ‘The increasing use of social media and its impact on products and services across multiple markets is appalling. The ability to analyze large amounts of information in real time and to provide that information in a manner that is meaningful and actionable to operators is something that points to the direct need for Binary’s SaaS-based offering. We believe Binary has an enormous and wide application, and we look forward to working with the team to realize this potential. ”
Ben Goux, Chief Financial Officer of Pioneer and Investment Partner will join the Board of Binary Fountain as part of this funding.
About the Binary Spring
Binary Fountain is a social intelligence company that extracts operational feedback from customers and disseminates data into actionable insights. Cloud-based technology platform enables organizations to integrate both social media content and survey data into their operational decision-making processes, resulting in improved customer engagement and service quality. The software platform disrupts traditional processes, creating value for the entire ecosystem of the organization.
Binary Fountain’s enterprise suite of industry-specific social intelligence solutions enables leading organizations to improve customer experience across all contact points. Marketing, operations and executive management use Binary Fountain to listen, understand and respond to ever-changing customer sentiments in order to benchmark performance against competitors and increase and sustain customer loyalty, profits and market share. Binary Fountain’s flagship offering is a real-time solution that undermines reliable customer feedback from social media and enterprise systems to equip brands, regions and units with the insights needed to improve guest satisfaction and loyalty, increase revenue and drive sustainable bottom-line outcomes.
Currently, a number of customer satisfaction-focused organizations rely on Binary Fountain to understand the customer perspective, act on it, and provide comprehensive operational intelligence across the service organization. To date, the Binary Fountain has been processed well over 3 5 million reviews for more than 1,400 locations
Visit Binary Fountain or e-mail media(at)BinaryFountain(dot)com for more information.
About Pioneer Venture Partner, LLC (PVP)
PVP, based in Kirkland, WA, is a close-knit venture fund focused on platform technology companies providing products and services to underserved and emerging markets.
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